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Our annual comprehensive tax checklist is designed to help you accumulate relevant information in advance of preparing your personal tax return. 

 

CONTENTS -

 


A. Information - All Clients Must Provide  

B. Additional Information - New Clients Must Provide 

C. Questions to Answer 

D. Other 

  
Compare your information with last year's tax return to insure you have received all the slips.

YOU are responsible to insure that your return is complete.
  

A. Information - For everyone, if applicable - 
 
1. All information slips such as: T3, T4, T4A, T4A(OAS), T4A(P), T4E, T4PS, T4RIF, T4RSP, 
    T5, T10, T2200, T2202, T101, T1163, T1164, TL11A, B, C and D, T5003, T5007, T5008,
    T5013, T5018 (Subcontractors), RC62 and corresponding provincial slips.
 
2. Details of other income for which no T-slips have been received such as: 
. other employment income (including stock option plans and Election Form T1212),  
. business income (farming and fishing businesses have special rules), partnership   
  income, and rental income, (all revenues and expenses),
. alimony, separation allowances, child maintenance (including divorce agreement,
. p
ensions (certain pension income may be split between spouses and foreign             pension income has special rules),
. interest income earned but not yet received - example Canada Savings  Bonds,        Deferred Annuities, Term Deposits, Treasury Bills, Mutual Funds, Strip Bonds,    Compound Interest Bonds,    
  • other investment income,
  • professional fees,
  • director fees, and
  • scholarships, fellowships, bursaries.

   
  3 Details of other expenses such as: 
     . employment related expenses - provide Form T2200 -  Declaration of
         Conditions of Employment (signed by employer),
  • tools acquired by trades persons and eligible apprentice mechanics,
  • business, rental and employment capital purchases (such as vehicles, equipment and buildings),
  • interest on money borrowed to purchase investments,
  • investment counsel fees,
  • moving expenses,
  • child care expenses,
  • alimony, separation allowances, child maintenance (including divorce agreement, and support amount that was paid),
  • accounting, legal, and other professional fees,
  • pension plan contributions,
  • home office expenses,
  • film and video production expenditures eligible for tax credit,
  • mining tax credit expenses,
  • business, property and employment travel and/or motor vehicle expenses (travel logs may be required),
  • scientific research and experimental development expenses,
  • adoption related expenses,
  • clergy residence deduction information (including Form T1223), disability supports expenses (speech, sight, hearing, learning aids for impaired  
  • individuals and attendant care expenses)
  • trades persons' tools acquired by an employee,
  • public transit passes acquired,
  • interest paid on qualifying student loans, and
  • amounts paid for programs of physical activity or arts for children under 16 years of age at the beginning of the year (under 18 for children with disabilities). Certain provinces provide credits for children above this age. 
      
4.   Details of other investments such as:
  • real estate, or oil and gas investments - including financial statements, and
  • labour-sponsored funds
5.  Details and Receipts for:  
  • Registered Retirement Savings Plan (RRSP) contributions,
  • Professional;and union dues,
  • tuition fees for both full-time and part-time courses for you or a dependent - including mandatory ancillary fees and Forms T2202, TL11A, B, C and D where applicable,  
  • charitable donations,
  • medical expenses for you and dependent person(s) (including travel expenses and certain medical related modifications to a new or existing home),
  • political contributions,
  • NEW - Home Accessibility Tax Credit - Certain expenditures (up to $10,000) may be eligible for a tax credit if made in relation to a renovation or alteration of your home to enhance mobility or reduce the risk of harm for an individual who is either, eligible for the Disability Tax Credit, or 65 years of age or older at December 31, 2016. Examples of eligible expenditures include amounts relating to wheelchair ramps, walk in bathtubs, wheel-in showers and grab bars. Eligible expenditures will include, for example, the cost of labour and professional services, building materials, fixtures, equipment rentals and permits. A similar credit is available in British Columbia, New Brunswick and Ontario.
  • NEW - Eligible Educator School Supply Tax Credit - If you are a teacher or early childhood educator, please provide receipts (up to $1,000) for eligible school supplies purchased in the year. An eligible supply expense is an amount paid in the year for supplies used or consumed in the school or regulated child care facility in the performance of your employment. Supplies include:
  •       a.  consumable goods such as construction paper, flash cards, items for science
               experiments, art supplies, and stationary items, and
  •       b.  durable goods limited to games, puzzles, books, containers and    
               educational support software. Computers, tablets and rugs (for kids to sit            on) are examples of expenses which are not eligible.
  • In addition, please provide certification from your employer attesting to the eligible supplies expense. Note that not all teachers and expenditures are eligible for this credit. 
  •       
  • Details of capital gains and losses realized in 2016. This may be obtained, in some circumstances, by contacting your investment advisor. 
  •  
6. Details of capital gains and losses realized in 2016. Ask your investment advisor

7. NEW
- Details on the disposition of your principal residence or other real property.
       disposing of your principal residence, please provide: proceeds of disposition, a 
       description of the property, and the year the property was acquired. If disposing of
       other real property, please provide the cost of the property, in addition to the  
       requirements for the principal residence.

       Further, please indicate if you have a change-in-use of your property. This could
       include, for example, converting some or all of your principal residence into an
       income earning property, such as a rental suite.

  8. Name, address, date of birth, S.I.N., and province of
residence on December 31,               2016, if changed in the current year.
 
  9. Personal status - single, married, common-law, separated, divorced, widowed.  If
      married or common-law, provide the spouse/partner's income, S.I.N., and birth             date. If there has been a status change in the year, please provide the date of the  
      change.   
10. List of dependents/children - including their income, birth date, and SIN.
 
11. Details regarding residence in a prescribed area which qualifies for the Northern 
      Residents Deduction.                                             
 
12. Details regarding contributions and withdrawals from Registered Education Savings       Plans.

1 3. Details regarding RRSP-Home  Buyers' Plan withdrawals and repayments, and              RRSP - Lifelong Learning Plan repayments.  
    
14. Details on 2016 income tax installments, or payments of tax , if we do not have               access  to your tax account on CRA's Represent a Client.
  
15. 2015 Assessment/Reassessment Notices and any other correspondence from             CRA.
 
16. Details of foreign property owned at any time in 2016 including cash, stocks, trusts,
      partnerships, real estate, tangible and intangible property, contingent interests,
      convertible property etc. Required details include: description of the property, related
      country, maximum cost in the year, cost at year-end, income, and capital gain/loss
      for each particular property.   
     
      For property held in account with a Canadian securities dealer or Canadian trust
      company, please provide the country for each investment, fair market value of the 
      investments at each month-end, income or loss on the property, and gain or loss
      on disposition of the property.
     
17. Details of income from, or distributions to foreign entities such as foreign affiliates
      and trusts.
 
18. Details of your Pension Adjustment Reversal if you ceased employment and were in
      a Registered Pension Plan or a Deferred Profit Sharing Plan (T10 slip)

19. Copy of any foreign tax returns filed

20. Internet Business Activities - If you have business, professional, farming or fishing
       income, please indicate whether you have Internet business activities. According to 
       CRA, Internet business activities include any activity where you earn income from   
       your web pages, websites, or Apps. This can include: 
    .  Selling goods and/or services on your own page or site. You may have a shopping        cart and process payment transactions yourself or use a third party service.
    .  Selling goods and/or services on auction, marketplace or similar sites operated                 others.  
    .  Earning income from advertising, income programs or traffic your site                            generates. Or,
 
    .  If your site doesn't support transactions but your customers call, complete and            submit a form or email you to make a purchase order, booking, etc.

(Note- Information only" web pages and websites like directories or ads will not trigger
this information requirement.)

If you do have internet business activities, please also provide:
  from. Please provide the addresses of your pages and/or sites. If you have more  Number of web pages or websites from where your business generates income  than 5, provide the 5 that generate the most income. 
 
 Provide the percentage of income generated from the Internet. If you do not know        the exact percentage, please provide a reasonable estimate.
   

 
B. Additional Information - New Clients Must Provide 
 
1.  Details of previous capital gain exemptions claimed, business investment losses 
     and cumulative net investment loss accounts.   

2.  A listing or copy of receipts for significant capital assets purchased in the year which 
     may appreciate in value.    
  
3.  Details of  carry-forward amounts from previous years (ex. losses, donations, forward
     averaging amounts, RRSP). 

4.  Copy of 2015 (or most recently filed) personal tax return if we don't have it already
 
  
C. Questions to Answer
 
1.  Are you disabled or are any of your dependents disabled? If so, provide Form  
T2201, Disability Tax Credit Certificate. The transfer rules allow claims for certain   
dependent relatives.    
 
Persons with  disabilities may also receive tax relief for the cost of disability supports
(eg. sign language services, talking textbooks, etc.) incurred for the purpose of  
employment or education. If you or your dependents are disabled but do not have a T2201 Form, please provide details so we can explore whether you are eligible for special credits or benefits.
  
2.  Are you the caregiver for any infirm family members?

3.   Did you provide in-home care for a parent or grandparent (including in-laws) 65
years of age or over, or an infirm dependent relative?  A federal tax credit may be 
available. Certain provincial credits may also be available. Also, the caregiver may claim related training costs as a medical expense credit.
 
4.  Do you want your tax refund deposited directly to your account at a financial  institution?
 
5.  If you have children up to the age of 17, have you received the Universal Child 
Care Benefit (UCCB)? If not, please provide details and we may be able to assist in obtaining some past benefits.   
 
Note that the UCCB ceased in mid-2016. For some taxpayers, this benefit was replaced by the Canada Child Benefit (CCB). The CCB is an income tested benefit and therefore may not be provided to certain higher income individuals who previously received the UCCB.  
 
6.  Are you a first-time home buyer in 2016? A tax credit based on $5,000 (@15%              =$750)  is available for qualifying homes acquired after January 27, 2009.
  
7.   Are you a U.S. citizen, Green Card Holder, or were you, or your parents born in the United States? You may have U.S. filing obligations.
 
8.   Have you spent more than 200 hours acting as a volunteer firefighter or a search
and rescue volunteer?  You may be eligible for a federal tax credit.
 
9.   Are you an aboriginal person? Special tax rules may apply.

10.  Do you authorize CRA to give your name, address, date of birth, and citizenship to  
Elections Canada to update the National Register of Electors. 
 
11. Have you made any contributions to a gifting tax shelter?
 
12. Did you receive any significant prizes or awards from your, or a related person's
place of employment?
 
13. Did you receive a retroactive lump-sum payment over $3,000 (for example, spousal
support)? In certain cases, some tax relief may be available.
 
14. Residents of New Brunswick, Ontario and British Columbia - Did you incur home
renovation expenses for seniors that may be eligible for the Healthy Homes Renovation
Tax Credit (Ontario), the Seniors' Home Renovation Tax Credit (British Columbia), or
the New Brunswick Seniors' Home Renovation Tax Credit (New Brunswick)?
       
15.  Did you purchase a new home in 2016? If so, you may be eligible for the new       
residential property GST/HST rebate.
 
16.  Other provincial and territorial tax credits may be available in your jurisdiction
such as certain property taxes and residential rent paid in Ontario.
  
 
D. Other

  1.  Installments required for 2017? A Pre-Authorized Debit (PAD) is an online service-    payment option whereby CRA is authorized to withdraw a pre-determined payment      amount directly from a bank account on a specific date(s) to pay taxes. This may help 
assist you with avoiding penalties on late and/or missing installment payments.
 
 2.  MyCRA mobile App -  This web App can be used on most mobile devices.  It allows
you to access and view key portions of your tax information such as your notice of
assessment, tax return status, benefit and credit information, and RRSP and TFSA
contribution room. 
 
3.  Canada Job Grant - 2/3rds of certain employee training courses may be eligible for
this grant.  If interested in improving your skills, ask your employer about this  
opportunity.

   
    
  
 
  
  
  
   
  
  
 
 
 
 
 
 
 
 
Render & Partners LLP | 905-727-9451 | howard@renderandpartners.com | http://www.renderandpartners.com
15140 Yonge Street
Suite 201
Aurora, ON L4G 1M2